Also built into the new Mac are next generation 802.11ac Wi-Fi and two Thunderbolt ports, which allow for unprecedented high-speed, massive data transfers from cameras or other media devices.

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It also comes complete with Apple's software suite that include word processing, spreadsheet, photo and music editing programs.

The less expensive iMac is already available on Apple's website and will ship within 24 hours. But it won't yet come preloaded with OS X Yosemite, the operating system Apple unveiled at its annual Worldwide Developers Conference earlier this month. Customers who buy the iMac now can download OS X Yosemite for free this fall.